At its core, inventory management software is developed to integrate your business’s selling outlets whilst syncing orders, returns, customer information and accounts back to your back office.
Using advanced technology and automation, inventory management allows retailers of all sizes to manage, organise and track their purchases, product sales and other core processes.
Whether a business is operating online or in-store, making using of drop-shipping or operating across multiple locations, an inventory system should manage it all from one central source. That means the ability to see at a granular level, everything that is happening with your orders; From how much stock is in your inventory, what’s on back-order, and what’s being held up in the warehouse.
With the right system in place, your business should also know the profitability around every item in your inventory, your most successful (and unsuccessful) promotions, as well as the performance of different suppliers. As well as equipping your team with the tools to work efficiently, you’re equipping your business with data to make important strategic decisions.